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#1
01-01-2015, 09:10 AM
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SIA lost so much on the Virgin Atlantic stake
An honorable member of the Coffee Shop Has Just Posted the Following:
On 20 December 1999 Richard Branson signed an agreement to sell a 49% stake of Virgin Atlantic to Singapore Airlines to form a unique global partnership. The cost of the transaction to Singapore Airlines was £600.25 million, which included a capital injection of £49 million and valued Virgin Atlantic at a minimum of £1.225billion. Delta paid $360-million (U.S.) last year for 49 per cent of Virgin. Exchange rate was USD1.6 in 1999, so SIA spent US$1.04 billion. The loss to SIA for this investment is US$678 million. Click here to view the whole thread at www.sammyboy.com. 
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